RioCan mulls acquisition in United States: report

By IBT Staff Reporter On 10/13/09 AT 9:52 AM

RioCan, the largest real estate investment trust in Canada, is getting closer to a major move into the United States -- even getting RBC Dominion Securities' opinion on a potential deal, the Financial Post reported on Monday.

We are looking around down in the United States, Edward Sonshine, chief executive of RioCan, said in an interview with the Financial Post.

There are just so many opportunities down there. There will be individual opportunities that we will ask one of the investment banking outfits to look into for us, he added.

We may have called up RBC and said 'here's this company that wants to sell us something. Can you look into these guys and tell us what you know about them?' the report said, adding that Sonshine declined to name the company RioCan has looked at.

The article stated that Sonshine emphasized his company has not retained Dominion Securities as an exclusive agent, but will use the investment banker deemed to be best suited for the transaction.

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